E*TRADE Announces an Alliance With Empower Retirement to Deliver an Integrated Stock Plan and Retirement Benefits Experience
E*TRADE Financial Corporate Services, Inc. today announced a strategic relationship with Empower Retirement, a retirement plan services provider, to give participants a more holistic view of their retirement savings and stock plan account.
Through a single log-on experience, E*TRADE Corporate Services stock plan participants who have an Empower 401(k) will be able to view their stock plan equity and retirement account balances side by side. Participants will also benefit by having seamless access to both customer service teams for help with their respective retirement and stock plan benefits.
“The participant site we offer has been consistently rated highest among full administration plan sponsors for its ease of use,” said Scott Whatley, President of E*TRADE Corporate Services. “To raise the bar even further, we are teaming up with Empower to deliver an experience where participants can view these important benefits all in one place and receive a more comprehensive picture of their workplace solutions.”
“This one-stop view of retirement and stock plans will allow employees to move toward a broader view of their financial outlook,” said Edmund F. Murphy, III, President and CEO of Empower Retirement. “This is an important and powerful step for savers who want to develop a more complete financial picture which also gives them the edge in plotting the path toward achieving their financial goals.”
The announcement comes on the heels of E*TRADE launching a student loan benefit offering, including employer-sponsored student loan paydown, 529 plan contribution solutions, and access to student loan refinance options.
E*TRADE Corporate Services delivers leading stock plan technology and solutions for nearly 1,000 corporate clients and 2 million participants. For news and thought leadership from E*TRADE Corporate Services, follow us on LinkedIn.
As of June 14, 2019, Group Five Stock Plan Administration Benchmark Study and Financial Reporting Benchmark Study rated Equity Edge Online® highest in Loyalty and Overall Satisfaction for the eighth consecutive year (2012–2019) among all plan sponsors who use a commercial system to manage the recordkeeping of their stock plans in-house. E*TRADE Financial Corporate Services, Inc. was rated #1 in overall satisfaction for brokerage services (offered by E*TRADE Securities LLC) three years in a row in the same study. All other claims also included in the 2019 study. Group Five, LLC is not affiliated with E*TRADE Financial Corporate Services, Inc. or the E*TRADE Financial family of companies.
About Empower Retirement
Headquartered in metro Denver, Empower Retirement administers $673 billion in assets for approximately 9.4 million retirement plan participants, as of Dec. 31, 2019. It is the nation’s second-largest retirement plan record keeper by total participants, according to Pensions & Investments, April 2019. Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, midsize and large corporate 401 (k) clients; non-profit 403 (b) entities; private-label recordkeeping clients; and Individual Retirement Account customers.
About E*TRADE Financial and Important Notices
The E*TRADE Financial family of companies provides financial services, including trading, investing, banking, and managing employee stock plans and financial wellness benefit plans. Employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC (Member NFA). Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Bank products and services are offered by E*TRADE Bank, and RIA custody solutions are offered by E*TRADE Savings Bank, both of which are national federal savings banks (Members FDIC). More information is available at www.etrade.com.
In connection with stock plan solutions offered by E*TRADE Financial Corporate Services, Inc., E*TRADE Securities LLC provides brokerage services to stock plan participants.
E*TRADE Financial, E*TRADE, and the E*TRADE logo are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G
E*TRADE Financial and Empower are separate and unaffiliated companies.
© 2020 E*TRADE Financial Corporation. All rights reserved.
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